Omaha daily bee., 1887-01-13
The SPECULATIVE MARKETS..
Foreign War Gossip Keeps Many Bear opef-
sioTs Out Of the Market.
LARGE TRANSACTIONS IN WHEAT
Oats Ftrm Up and Close Higher
Raising OF Snow BlUckades Cause
Heavy Receipts OF Cattie-HoSs
CONGRATULATIONS.
CHICAGO PRODUCE MARKEr.

CHICAGO. Jan. l3-'Speciai Telegram to
the BIZ -First trades in wheat were at
s4isc. which was &c lower than yesterdays
close. For quite awhile the market hung
around ~ .c and $50. Then it was ad.
Nanced o. shorts, who were rendered nery-
Gus by the war paragraphs In the press cables
and who are generally manifesiing a deter
mination 10 paddle close 10 shore. This war
gossip has kept many bearishly-iDcliued par
ties on, Of the market and unsettled their
lines. and while they have hesitated tie
Legitimate situation has apparently under
gone change for the better Nevertheless
the stalwart bear leaders subjected the market
10 a season OF quiet hammcrins all day.
Trading was not on a large scale, but among
the operators OF minor importance there was
a show Of shorter risks and prepare for a
possible reaction The lowest at which May
wheat sold was sitc and the highest s47.c.
The bulk OF trading was at ~. l>ii.c and
above aud at o'clock the quoted price was
- g. with February selling at sS' and March
at - c Tie tone Of the market
during the las; half hour was one
Of moderate hrmness and tie range
Of prices shows no change from yesterday.
Corn reacted little to-day, the market show
ing, in fact, some independent strength.
There was mole doing in future, than either
of the two previous days, there beiIfHcA good
many outside on hand to buy Nav at 4l;.c,
bui the demand was largely from some OF
the biz shorts. Ream covered a large line
this morning. II was said. This appeared 10
be about the only reason assigned for the
more buoyant tone. The selling was princi-
pal!y by longs and against cribbed corn. No
disposition was shown to put out short lines.
Tho nppuing- g. a I q Z. In N1..- and
after gradually working up to Il .c there was
reaction TO il1c. Quickly the market
hardened again. and between 1880 and l n.
~ worked up TO Il td4l &c. The last re-
corded transaction on the regular session was
III ii24r, but just after the gong sounded and
autil the crowd dispersed split BIDS OF Il a
Il &C were all that sellers could obtain. FEB
Iuary closed at Dji1c and March al ~ c.
May was by long odds the fayUTite trading
month. The p. N. prices were a strong &C
better than yesterdays c!osincs. Oats
iirmed up &c and closed at 29t.c.
That future sold at SOC, Less deferred fu-
lures Were nominal Provisions were weak
and lower. Thee was q rafting ire OF
small lots OF pork and ribs from the very out.
set First trades in pork were on basis OF
SlLS.1S for May. loss over last night OF
e'sc once the price got down T. sli.>jI
il.>,-f, and once climbed 10 Sl2ol. but most
of the business was done al Sll."2s all.%-s!.
During the last half OF the morning session
trade was slack. but just before the close
reyiYa! Of activity was noted. and at /
o'clock prices were substantially the same as
those ruling at the opening. Pork suffered a
net depreciation 70 tie extent OF i9i, 2 ltc. lard
., c, and ribs =; CSC. The local feeling is
stu very bcarish, In spite OF which there was
considerable covering by shorts. \ good
many sold in anticipation OF increased rt-
ceipts. No sooner did the receipts begin to
show, as anticipated. than there seemed to
enSue wild rush 10 cover. somewhat sin
gular circumstance. The long property that
came on the market to-day was in somewhat
scattering lots. The two leading lines owned
b. Hutchinson and Charlie Wright have not
yet been disturbed by the break. holders dis.
playing no anxiety 10 unload up TO the pres
ent writing.
2:So p. m.-Wheat, corn and polk showed
some improvement on the afternoOG board
MAY wheat sold up 70 - C. closing at >jT
-. &C. Corn advanced &c. closing at A.
May pork closed Al Sl2V211, gain OF l0c.